Developer Profile...Jim Borders

The hot concept – and many more just like it – has brought Novare to the forefront of Atlanta’s booming condo and adaptive re-use market. Since 2000, Borders and Novare have developed and/or sold more than 1,800 units and $300 million in condos. Ironically, Borders’ success started in the building where Novare is headquartered – the Biltmore. Borders restored the grandeur to the old hotel on West Peachtree Street, converting the upper floors to office space, but keeping the elegant ballrooms below for special events.

However, when Borders began his restoration of the Biltmore back in the 1990s, that area of Midtown was more blight than delight. “This was not a great area,” Borders concedes. “It’s taken a 180-degree turn in the last few years.”

Borders, 44, was part of that turn, renovating the Peachtree Lofts into high-end condos and then moving on to new construction with the lauded Metropolis building on Peachtree near 10th Street. A mixture of adaptive re-use and new projects has followed, bringing Borders and Novare much acclaim. Their portfolio also includes:

• Centennial House condos

• Eclipse

• Rhodes-Haverty building

• Renaissance Lofts.

Novare has also branched out to other cities, including Austin, Nashville, Charlotte and Tampa.

Borders began his career as an attorney with Atlanta firm King & Spalding, practiced as a turnaround consultant at Grand West & Associates, and in 1992 bought his first piece of real estate – a self-storage facility in Austell. Renovating the office buildings came next, then the focus on new construction of high- rise condominiums.

“We considered ourselves a fairly small company up until a few years ago,” Borders said. “In 2002 and 2003, we closed a series of deals and the company started to grow.”

One of those deals was to build an “attainable luxury” condo in the hotly tipped Atlantic Station development. The mixed hotel/condo scheme had been done in Atlanta before (notably at the Four Seasons), but those were extremely high-end, Borders said. Borders and his Novare team came up with the Twelve concept and plunged in.

“After Metropolis, we started looking at what other amenities we could bring to residents, such as room service and housekeeping,” Borders said. “Twelve grew out of that.” With two more Twelve properties under way, Borders said there are plans to eventually take the brand to other cities.

While some critics have voiced concerns about the bottom eventually falling out of Atlanta’s booming condo scene, Borders doesn’t see it happening. “People enjoy living in the city, and the redevelopment that’s going on Downtown and in Midtown are the impetus to bring people back in to the city who left. Young singles are leading the charge.”

Borders said Novare, which means “make new” in Latin, is delivering its condos at a “measured pace” and keeping up with the ever-growing demand. One of the areas Borders has his eye on now is Centennial Hill, near the park, the Georgia Aquarium and the new World of Coca-Cola. He said the area wasn’t really ready for Centennial House when it opened in 2000, but the area is now ripe for development. In 2007, the new Twelve will rise near the aquarium at Ivan Allen Jr. Boulevard and West

Peachtree.“There was a lot of talk about development around the park, but it didn’t happen at first,” Borders said. “Now the development has caught up and it’s a great area.”

Borders, a native of Carrolton, attended Georgia Tech, receiving a degree in mechanical engineering. He went on to the University of Georgia to get his law and business degrees. Borders said he always knew he would wind up in business, but the wild success of Novare is icing on the cake.

Borders admits to having very little time for hobbies, but does try to play a little golf and run. He likes to spend time with his wife, Sarah, and their two daughters. When Novare was in its infancy, Borders and his wife lived in the Biltmore House condos, right next door to the hotel, for six years.

“Sarah got tired of living over the shop, so now we live in Buckhead,” he said, which just happens to be the site of his next project. While details weren’t available at press time, Novare plans to build one or two condo towers next door to the Roxy theater in the heart of Buckhead Village.